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Initial public offerings

Ceigall India's Initial Public Offering (IPO) Opens for Subscription

Strategic Insights

— 1 min read

Ceigall India, a prominent infrastructure construction company, has commenced its initial public offering (IPO) for subscription. The company aims to raise Rs.1,253 crore through the issue, with a subscription period ending on August 5. The IPO includes a mix of fresh equity issuance and an offer-for-sale (OFS) by existing shareholders and promoters. The company has allocated 50% of the issue for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors.

Key Takeaways:

  • Ceigall India's IPO is priced at Rs.380-401 per share, implying a listing gain of around 17% according to GMP.
  • The company aims to raise Rs.1,253 crore through the IPO, with Rs.684 crore from fresh equity issuance and Rs.569 crore from the OFS.
  • The IPO includes the sale of 1.41 crore equity shares by existing shareholders and promoters, including Ramneek Sehgal, Ramneek Sehgal and Sons HUF, Avneet Luthra, Mohinder Pal Singh Sehgal, Parmjit Sehgal, and Simran Sehgal.
  • The company has expertise in specialized structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.
  • The IPO has been subscribed in a lot size of 37 equity shares and its multiples, with ICICI Securities, IIFL Securities, and ICICI Securities as the merchant bankers.
  • The basis of allotment for the issue will be finalized on August 6, and shares will be listed on the exchanges on August 8.
  • Ceigall India was established in 2002 and has over two decades of experience in infrastructure construction, with a focus on specialized structural projects.

Statistics:

  • Ceiling price of the IPO: Rs.401 per share
  • Floor price of the IPO: Rs.380 per share
  • Listing gain implied by GMP: 17%
  • Amount to be raised through the IPO: Rs.1,253 crore
  • Amount to be raised through fresh equity issuance: Rs.684 crore
  • Number of equity shares to be sold by existing shareholders and promoters: 1.41 crore
  • Lot size of subscription: 37 equity shares

Sources:

  • Hindustan Times: "Ceigall India IPO opens for subscription today, priced at Rs 380-401 per share" (no date available)
  • BSE: Ceigall India IPO listing (no date available)

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